MaxLinear Upgraded to “Outperform” by JMP Securities (MXL)
MaxLinear (NYSE:MXL) was upgraded by equities research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on MXL. Analysts at Chardan Capital initiated coverage on shares of MaxLinear in a research note to investors on Wednesday, September 18th. They set a “neutral” rating and a $8.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of MaxLinear in a research note to investors on Friday, September 13th. They now have a $10.00 price target on the stock. Finally, analysts at Needham & Company raised their price target on shares of MaxLinear from $9.00 to $12.00 in a research note to investors on Friday, September 13th. They now have a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.20.
Shares of MaxLinear (NYSE:MXL) opened at 7.83 on Monday. MaxLinear has a 52-week low of $4.50 and a 52-week high of $9.05. The stock has a 50-day moving average of $8.21 and a 200-day moving average of $7.01. The company’s market cap is $270.1 million.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.05. The company had revenue of $29.80 million for the quarter, compared to the consensus estimate of $28.50 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis.
MaxLinear, Inc operates as a fabless communications Integrated Circuit company. The Company is creating solutions for wireless and wire-line applications (NYSE:MXL).
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